Legal & General Group Plc Decreases Holdings in ZIM Integrated Shipping Services Ltd. $ZIM

Legal & General Group Plc decreased its position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) by 16.1% in the fourth quarter, HoldingsChannel reports. The fund owned 193,844 shares of the company’s stock after selling 37,247 shares during the quarter. Legal & General Group Plc’s holdings in ZIM Integrated Shipping Services were worth $4,115,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hoey Investments Inc. acquired a new stake in ZIM Integrated Shipping Services in the 4th quarter worth approximately $25,000. Lodestone Wealth Management LLC acquired a new stake in ZIM Integrated Shipping Services in the 4th quarter worth approximately $29,000. Quarry LP acquired a new stake in ZIM Integrated Shipping Services in the 3rd quarter worth approximately $34,000. Leonteq Securities AG acquired a new stake in ZIM Integrated Shipping Services in the 4th quarter worth approximately $61,000. Finally, Larson Financial Group LLC boosted its stake in ZIM Integrated Shipping Services by 158.8% in the 3rd quarter. Larson Financial Group LLC now owns 3,256 shares of the company’s stock worth $44,000 after purchasing an additional 1,998 shares in the last quarter. Hedge funds and other institutional investors own 21.42% of the company’s stock.

ZIM Integrated Shipping Services Stock Performance

Shares of NYSE ZIM opened at $25.52 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14. ZIM Integrated Shipping Services Ltd. has a 12 month low of $12.33 and a 12 month high of $29.97. The company has a 50 day simple moving average of $25.93 and a two-hundred day simple moving average of $24.04. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 31.51 and a beta of 1.21.

ZIM Integrated Shipping Services (NYSE:ZIM) last announced its quarterly earnings data on Thursday, May 21st. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.50). ZIM Integrated Shipping Services had a net margin of 1.56% and a negative return on equity of 0.26%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.48 billion. As a group, analysts predict that ZIM Integrated Shipping Services Ltd. will post -7.24 earnings per share for the current year.

Insider Buying and Selling

In other ZIM Integrated Shipping Services news, EVP Saar Dotan sold 15,000 shares of ZIM Integrated Shipping Services stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $25.41, for a total transaction of $381,150.00. Following the completion of the sale, the executive vice president directly owned 101,667 shares in the company, valued at approximately $2,583,358.47. The trade was a 12.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 50,000 shares of company stock worth $1,250,100. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Citigroup upgraded shares of ZIM Integrated Shipping Services from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $11.50 to $31.80 in a research note on Thursday, February 19th. Barclays lifted their target price on shares of ZIM Integrated Shipping Services from $13.70 to $15.80 and gave the stock an “underweight” rating in a research note on Monday, March 16th. Weiss Ratings cut shares of ZIM Integrated Shipping Services from a “buy (b-)” rating to a “hold (c-)” rating in a research note on Tuesday, March 10th. Finally, Fearnley Fonds upgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $17.83.

ZIM Integrated Shipping Services Company Profile

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.